Marc Faber, "The Ego of Mr. Bernanke has been Badly Inflated"
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Follow us @ http://twitter.com/laurenlyster http://twitter.com/coveringdelta US President Barack Obama gave a speech accusing Republicans of "social darwinism" with budget cuts they are proposing, calling them antithetical to the country's history as a land of opportunity. But how much opportunity is there left exactly? We speak with Dr. Marc Faber, publisher of the Gloom Boom & Doom report. He says that wealth destruction and social unrest may be on the way for Western economies, whose citizens are being outcompeted by those in emerging economies who are willing to work harder and are far hungrier than Westerners are. And yesterday, Wall Street had a strong start to the second quarter, with the S&P 500 marking its highest close since mid-May 2008. And the FOMC minutes today reveal the Federal Reserve is holding off on more monetary easing unless US economic growth falters or inflation goes below two percent. So is this inflation or deflation? Is this risk on or risk off? And what does it mean for the economy that this is the way we are always looking at things? Marc Faber has his own thoughts on the matter. He believes that this debate is not quite so simple. He says inflation in money and credit can cause bubbles, but it is hard to know where they are, and it is not easy to know where inflation is taking place. Governments hide inflation through various official numbers and estimates, and also, much of that inflation goes into asset prices. We do not know exactly how much the Federal Reserve, the ECB, the BOJ, etc. are propping up the prices of stocks, commodities, etc. We can only estimate. The money printing and loose language of the central bankers and policy makers around the world certainly does distort the price mechanism, however, and Marc Faber is not optimistic about the ramifications of these actions. And finally, we've heard talk about the possibility of a student loan bubble -- a more than $1 trillion debt problem. Well, it appears some senior citizens are on the hook along with kindergarteners. But what is the value of education really? After all, central bankers and economists have PhD's from the best ranking universities in the country. We'll break it down for you during our segment of "Loose Change," though Marc Faber weighs in on student debt as well.
Comments
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"in science, complexity is used to reveal the truth; in economics, complexity is used to conceal it."
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Ya id feed it to her.
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People do not call him a "perma-bear or pessimistic," delusional MORONS do!
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Agreed, I hate it when people call him a perma-bear or pessimistic, he's a realist, and I would rather be real and prepared than blindly optimistic.
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Yeah, but what did you think about the actual video?
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END THE FED EAT THEIR YOUNG
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bring Marc Faber back again, please
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Then go for it but if the equipment is old, it will likely work badly and probably will have something damaged inside. Be my guest and rush for it.
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So what? Nobody says you're entitled to new equipment. All you need is a PC who can use the internet and read pdf files and the like.
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Your friends have theyre parents helping them out for sure or maybe they incur in criminal activities, who knows? Easy to speak when youre not affected or have help some way, otherwise i surely would aggree with your comment, although you must be speaking about equipment with no guarantee sold in second hand and quite old.
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I have Eastern European friends who somehow afford computers and they make even less. You can buy a Pentium 4 1Ghz computer with 512MB of RAM and a 100GB HDD, plus a CRT screen for under $100. You can run Linux, which is free. Considering that you can share your internet connection and get the cheapest one, if you let three neighbors on your wifi, it will be about $10 a month.
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Come live and work on my country Portugal and we will see if you can buy pc for just 200 and have internet for just 10, with of minimum wage of less than 500, salary cuts, more and more taxes being created "every day", most expensive energy, gas, water and petrol in europe, paying more than double on pharmaceutical products than in our neibours Spain...
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What Faber talks about is old people screwing the young. This is the national sport in the West. Put crushing debts on us and making us pay retirement benefits, open the markets to compete with people making $2 a day so that old people can get something cheaper, bring in hordes of people who commit nothing but crime and live on welfare etc etc. This is the result of Mr Faber's generation and history will curse it.
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You can buy a PC that works with internet for $200 and monthly crap internet is about $10. Poor you.
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He says that we have everything in our pcs, not having to spend money on expensive books to study and investigate... but a pc has to be paid and its internet connection also has to be paid. So, things are not as easy as that guy is convinced of.
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Dr. Faber is one of the only economists who makes any sense to me.
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The only homo here is YOU! And you can tip your queeny mouth to wherever needs it the most.
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Homosexual i am tipping?
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Lauren... You are getting way to sexy for your own good!
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PS I love her belt.
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